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The company was founded in November 2009 by Harvard Business School sectionmates Jennifer Hyman and Jennifer Fleiss, after Hyman watched her sister overspend on a dress for a single wedding. Following a pop-up test at Harvard, the site officially launched on November 10, 2009 with roughly $1.8 million in seed funding led by Bain Capital Ventures. Members now get rotating access to 600+ designer brands across thousands of styles — dresses, outerwear, handbags, jewelry and more — with an Unlimited plan for holding several pieces at once and even West Elm home decor to rent. After pioneering the clothing rental subscription model, the company went public on Nasdaq in 2021, raising $357 million.

